Engel & Völkers expands into Canada’s real estate market

Engel & Völkers expands into Canada’s real estate market

Posted by elzanne.venter@engelvoelkers.com on February 23, 2015.

The Engel & Völkers Group has pushed its North American expansion ahead with entry into the Canadian market. This is the 39th country in which the global company, which is specialised in the brokerage of premium residential property, commercial real estate and yachts, is now operational. Engel & Völkers is currently present in Canada with four property shops in Toronto, King City, Calgary and Victoria.

Canada is yet another strategically key market for the Group. Its stable national economy, secure financial system and superb links with international airports make it an attractive property market for domestic and foreign buyers alike. Strong investment interest from abroad is centred around the USA, Europe, the Middle East and Asia. “We’re delighted that our services are now on offer in Canada too, and that our international network can enjoy access to the Canadian real estate market,” said Sven Odia, Co-CEO of Engel & Völkers AG.

The Engel & Völkers residential property shops in Canada each were opened in selected locations. One is located in the centre of Toronto, with another in the small town of King City north of Toronto. Its status as an international centre of finance and culture makes Toronto a world-class city. Its popularity is also owed to the city being so close to the Great Lakes. The King City area is home to a number of international private schools.

Domestic and international interest from buyers tends to focus in the Greater Toronto Area on traditional townhouses and apartments, as well as high-end country homes and equestrian properties. Calgary, with its oil and gas industries and other business sectors, draws large numbers of highly skilled professionals from around Canada and the world. This boosts spending power and demand for real estate in the upper market segment. Victoria on Vancouver Island on the west coast is a particular magnet for international buyers looking to buy second homes or holiday residences. “We are currently developing additional markets in Canada and looking forward to even more brokerages in 2015,” said Richard Brinkley, Senior Vice President Market Development for Engel & Völkers Canada.

Engel & Völkers entered the US market in 2007 and the brand has been expanding there ever since. Just some of the Engel & Völkers shops that opened in 2014 include those in New York City, Las Vegas, Atlanta, Dallas and Beverly Hills.